QUESTION ON How to Set Salary of Partners in S Corporation? Hi, At present, I'm staying in VA. Recently I've started new firm (S Corp) and working as a contractor in DC thru' my firm. I'm the only one working for the company. My wife is partner in the company, but she is permanent employee of some other firm. Estimated revenue of my company is around 120K/yr. What … [Read more...] about How to Set Salary of Partners in S Corporation
QUESTION ON Election of LLC as an S Corporation or C Corporation? How do you find out if your LLC is either "S" status or "C"? Also, I would like to remove one of the members from my LLC. Do you provide this service and at what cost? Thank you. - Kathy Foussadier, Destiny Galleria ANSWER Dear Kathy: A limited liability company with two or more … [Read more...] about Election of LLC as an S Corporation or C Corporation?